Exampe 12 monts FD,
Paid monthly - interest is calculatedvby month and paid to you every month
Paid on maturity - total interest paid to you after 12 months have completed

Paid monthly is better especially if the principle is big amount, the interest paid can dump into FD earning interest again.

Last year received a letter from SCB asking me either to close my saving account or carry out some transactions coz it was inactive. Originally plan to close it coz I have too many saving accounts in some other banks. The counter girl convinced me to put some money coz she said usually SCB provides promotion to its existing customers.Now with this condition, I also wonder will they allowed existing customer enjoy the rate? If not, I will just place at EPF near month end...

My conclusion is Gen-x get higher return through exchange rate than from FD rate...

I dont think all banks operate that way to define fresh fund.

Agreed with you complaining to the branch manager is not effective coz the manager will take it as a small issue. i had an unplesant exerience at RHB and I called up the RHB general line to make a "written" complaint and the next day, the branch manager called up...

Ocbc pb centre is the biggest in penang. The car park is located at almost end of road,near the traffic light? It is quite a dstance to walk.

That is nice....why did Ocbc give for premier customer...

May be he should be called M & M man

Ocbc used to have the promo of additional 5% for one month foreign currency FD. The promo still on when I checked with Ocbc last month. Some banks give good FD rate but poor exchange rate. This is how these banks taking back the free lunch .....you need to compare the FD and exchange rate as a total package

Thanks for your RHB FD. My FD will be matured next few weeks and it is very convenient to walk over to RHB. Ocbc has many RM but I could not find the leng lui you mentioned....may be wrong timing

This post has been edited by gsc: Apr 3 2015, 03:03 AM

Must be a very goat year for brother goat...PB members OCBC, UOB...many many more..

This post has been edited by gsc: Apr 3 2015, 08:20 PM

RM confirmed OCBC promo. 12 month 4% (only Islamic FD)

Another one is double saving deal 3 months 4.3% pa and must deposit into saving, ratio 1:1. Saving portion earmark 3 months. Current smart saver interest 3.05%, mathematical effective rate is 3.675%.

Just in case a person kept the Smart Saver after the 3 months binding periods, Account closure of Smart Saver will be considered as a withdrawal and the interest rate of 0.5% pa will applied. Thus, the effective could even be lower than 3.675%....a bad deal

Ocbc still provides 12 months at 4.2%????

This is what I thought and posted earlier..thought Ocbc has changed to match UOB offer

Over look my Ocbc FD which was due on 11 Apr (saturdau). Ocbc will give interest when FD matures on weekend. I am going to withdraw the money tomorrow.

I remembered my RM once said , the interest on weekend will be paid only provided the FD is withdrawn immdiately on the first working day, ie Monday. Is this true? Do other banks (that provide interests over ther weekend or public holidays) follow the same procedure?

Ocbc does not "auto correct" to working day. My FD slip printed mature on 11 April which is a Saturday.

I will check out with Ocbc coz my RM did tell me the following scenerio.

FD matured on Saturday, customer act on the matured FD on Monday, weekend interest rate will be credited as per the FD rate on the FD slip.

But if customer acts on the mature FD on Tuesday, no interest will be credited over the weekend.

Yesterday went to Ocbc and the staff said if mature on Saturday and withdraw on any day except Monday (the first working day), the interest is still calculated till Sunday. This is different from what the RM said. I need to calculte to verify.

Took the money and walked over to RHB on step up interest. Ocbc staff said as a formality, they need to know why I withdraw the FD. Told her, your neighbour offers a better interest rate.

RHB step up is an Islamic Account and I have to open the new account. Took about 30 minutes with many forms to sign.

The staff try to sell me the FD 7.8% bundle with unit trus
He shows me the comparision against FD of RM100k. The FD rate RHB used to compare is 3.25% the board rate which is inaccurate. They should use the promo rate. Then the senario will be different.
The UT return is about 7% but the charges is 5%.

It is good only if keep for 3 years and the rate of return is on average 7% per year to minimize the 5% charges.

I asked the staff on the cut off date on the dividend paid out which he tried to look at the computer but unable to find.

On the FD statement
Deposit date 15/4/15
Maturity date 15/7/15
Profit payment option: On maturity (which means every 3 months)
Peincipal Distribution Option :auto renewalh
Profit payment and maturity amount are stated clearly.

If she is the RM usually wont hang around at the counter or waiting area unless they are seeing bbgoat or other customers That is why I did not get to have the eyetertainment

If they google bbgoat lowyat then probably ocbc will find themselves being "discussed"....and instantly recognised your status..

https://www.google.com.my/search?q=bbgoat+l...n&client=safari

On depositing cash,
UOB limit is Rm30k, Ocbc, HL and Citi bank at RM50k. But they may have changed the policy now...

On asking what will the fund be used, Citi bank has lower limit than others, cant remember the limit.
Even if you apply for a bank draft for less than RM20k, Citi bank will ask the purpose....

I like your Genting answer which probably I can use it too....

All banks wont question sources of fund if you use bank draft or personal cheque as it is already stated from which bank...

My opinion is to lock in for 5 years, a person needs to look at his current age now. I am just voicing my opinion to those who may be concerned, not referring to you ....a leng chai.

Touch wood...if anything happened, even if it is under joint name FD, to avoid complexity, the other joint name person will be forced to withdraw the FD before maturity to avoid the money being "frozen" ....